|
PureBytes Links
Trading Reference Links
|
No, not specifically. There is a seasonal rally that takes place during the
summer months. Whether it occurs this year is yet to be seen. This market
could rally to 1300 on the SPX and still be in a downtrend on the daily chart.
ON the weekly chart it is just a mild retracement of the rally from the 1994
lows. Everything in perspective. Right now it appears to be a retracement of
the downtrend on the daily which hasn't reached its target as yet. At this time
the 1170 area is holding fast as a major resistance area to upward price
movement. It has bounced off of that level 3 times now. The opposite is
true of the Dow. It is still in a uptrend and will remain so until 7400 is
taken out and all we are seeing now is a retracement of the up move from that
area. Everything has its reference point. Things are bullish or bearish
depending upon the time frame you are looking at. The Dow is bullish on charts
down to the 60 min chart. For a bearish look you have to drop down to a 15 min.
chart of the Dow. Kind of tells you that the big hitters are going into the big
stocks. One other thing the smaller cap stocks are hitting new highs. So we
have a very selective bear market as well as a very selective bull market.
There is ample room to trade between the highs and the lows and sufficient
volatility in most areas to be able to get in and out no matter what time frame
you decide to trade. So bull or bear makes little difference, give one
volatility and liquidity and the world will be his/hers. Have a good week end.
Ira.
Don Ewers wrote:
> Ira,
> You would not be talking about this would you (dark green bold line)?
> don ewers
>
------------------------ Yahoo! Groups Sponsor ---------------------~-->
Buy Stock for $4
and no minimums.
FREE Money 2002.
http://us.click.yahoo.com/k6cvND/n97DAA/ySSFAA/zMEolB/TM
---------------------------------------------------------------------~->
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|